Torrent Pharmaceuticals to acquire domestic formulation business of Elder Pharmaceuticals for Rs 2,000 crore

Ahmedabad-based Pharmaceuticals major, Torrent Pharmaceuticals Limited is set to acquire the domestic branded formulations business of Elder Pharma at a cost of about Rs 2,000 crore. Elder's India business comprises a portfolio of 30 brands in segments such as women’s healthcare, pain management, wound care and nutraceuticals therapeutic segments. Torrent would fund the acquisition through a mix of internal accruals and bank borrowings.

About Torrent Pharma: Torrent Pharma, with an annual turnover of over Rs.3200 crores is the flagship Company of the Torrent Group. With many of its products ranking among the top 200 brands, Torrent continues to be at the forefront of the Indian pharmaceutical industry.Torrent has a fully equipped Research Center, employing almost 600 scientists, tosupport the company’s operations and product pipeline for both domestic and overseas markets. Torrent has manufacturing facilities located at Indrad, Baddi & Sikkim having facilities to produce Formulations and Bulk drugs. The plants are approved by authorities from various regulated and semi regulated markets like US, UK, Brazil, Germany, Australia and South Africa.